Constellation Brands (NYSE:STZ) PT Lowered to $293.00

Constellation Brands (NYSE:STZ) had its target price reduced by JPMorgan Chase & Co. from $307.00 to $293.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently commented on STZ. UBS Group decreased their price target on Constellation Brands from $320.00 to $295.00 and set a buy rating on the stock in a research note on Monday, September 9th. Roth Mkm reiterated a buy rating and set a $298.00 price target on shares of Constellation Brands in a research note on Friday. Royal Bank of Canada reissued an outperform rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday. Jefferies Financial Group boosted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a buy rating in a research report on Friday, July 5th. Finally, Evercore ISI cut their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an outperform rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $295.75.

Constellation Brands Price Performance

STZ stock traded up $3.02 during trading on Friday, reaching $246.67. 1,351,402 shares of the company were exchanged, compared to its average volume of 1,183,067. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a 50-day moving average of $246.53 and a two-hundred day moving average of $253.50. The company has a market capitalization of $45.13 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.74 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.70 EPS. As a group, equities analysts predict that Constellation Brands will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.64%. Constellation Brands’s payout ratio is 30.10%.

Insider Buying and Selling

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now owns 3,232 shares in the company, valued at $815,853.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock valued at $3,982,922 over the last three months. 12.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Constellation Brands

A number of institutional investors have recently modified their holdings of the stock. Rafferty Asset Management LLC boosted its position in shares of Constellation Brands by 4.4% during the 4th quarter. Rafferty Asset Management LLC now owns 12,541 shares of the company’s stock valued at $3,032,000 after purchasing an additional 525 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Constellation Brands by 3.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 10,496 shares of the company’s stock worth $2,537,000 after purchasing an additional 367 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Constellation Brands by 64.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 19,339 shares of the company’s stock worth $4,675,000 after acquiring an additional 7,589 shares during the period. Crossmark Global Holdings Inc. lifted its position in Constellation Brands by 2.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,256 shares of the company’s stock worth $1,271,000 after purchasing an additional 121 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in Constellation Brands by 18.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 9,953 shares of the company’s stock worth $2,406,000 after purchasing an additional 1,542 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.